Skip to main content

Investing in Life Insurance

Buy Best Life Insurance Online


Buying life insurance can be a crucial decision. Some people may choose to buy a cover early in life. Others may leave it until later. If you are thinking of investing in a life insurance policy, here are 10 points you may want to know.


1. Necessity: Investing in a life insurance policy can make complete sense if you are taking care of other people. Life insurance provides more than the death benefit. It may help you prepare for any uncertainties. But what if you plan to remain single? Or, you do not have any future liabilities? Then you may think again before buying a life insurance policy.


2. Purpose: You may feel investing in life insurance is a fundamental need. Then consider the purpose of buying your policy. For example, do you expect your policy to pay for your child's education in case of an uncertainty? Or, do you want it as a security for your high-risk job?


3. Coverage: Individuals need different insurance covers. What is the amount of cover you need? Your annual income may not be the ideal figure to calculate your desired cover. You may want to consider other important factors before deciding. What is your age, profession, and medical condition? How many people are dependent on you? What are your financial goals?


4. Category: If you are clear about the purpose of your life insurance and the amount of cover you need, it will help you choose the category of insurance you want to buy. You can opt for either a term insurance cover or a whole insurance cover. Do you want to pay a fixed premium rate for a specific period of cover? Then a term insurance is best for you.


5. Debt: When you decide to invest in a life insurance policy, you have to know how much you are able to pay. So you may want to consider any debts you already have. These existing debts could hamper your ability to pay the insurance premium on time. This delay could end your policy. Most insurance companies may also increase the premium when you renew your policy.


6. Investment: You may not want to ignore the investment element while purchasing a life insurance cover. A unit-linked insurance policy (ULIP) provides for death benefit and financial security. It may also provide an opportunity for your investment to grow by linking it to the stock market.


7. Protection: Your life insurance policy may pay for unexpected events such as death, disability, and sickness. It could provide protection to your loved ones by reducing the effects of loss of income due to death. You can even draw a loan against your life insurance policy. Many banks and financial institutions accept it as a guarantee.


8. Savings: Investing in a life insurance policy could lead to savings. A term life insurance could leave you with cash in hand. You could use this money for other investments. For example, you could pay a certain amount of premium for a specific time. You could then use the rest of the insurance amount to buy a child plan. You may accumulate cash value with permanent life insurance and get tax-deferred growth.


9. Tax benefits: Life insurance premiums are exempt from tax up to a certain amount. The claim amount received by the beneficiary is also tax-free. But each policy is different. So it is important for you to know how much you will be paying to keep your policy practical. Sometimes the cost may be more than the tax benefits.


10. Terms: Each life insurance policy has different terms and conditions. You need to understand and read the complete policy document before signing to buy. You may want to know the future impact on the premium. You may also want to know if there is any bonus or cash value that you could withdraw in the near future.







------------------------------------------
Invest Rs 1,50,000 and Save Tax upto Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds

Top 4 Tax Saver Mutual Funds for 2017

Best 4 ELSS Mutual Funds to invest in India for 2017

1. DSP BlackRock Tax Saver Fund

2. Invesco India Tax Plan

3. Tata India Tax Savings Fund

4. BNP Paribas Long Term Equity Fund



Invest in Best Performing 2017 Tax Saver Mutual Funds Online

Invest Best Tax Saver Mutual Funds Online

Download Top Tax Saver Mutual Funds Application Forms


For further information contact Prajna Capital on 94 8300 8300

--------------------------------------------

Leave your comment with mail ID and we will answer them

OR

You can write to us at

PrajnaCapital [at] Gmail [dot] Com

OR

Call us on 94 8300 8300

---------------------------------------------

 

Popular posts from this blog

Am you Required to E-file Tax Return?

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300   Am I Required to 'E-file' My Return? Yes, under the law you are required to e-file your return if your income for the year is Rs. 500,000 or more. Even if you are not required to e-file your return, it is advisable to do so for the following benefits: i) E-filing is environment friendly. ii) E-filing ensures certain validations before the return is filed. Therefore, e-returns are more accurate than the paper returns. iii) E-returns are processed faster than the paper returns. iv) E-filing can be done from the comfort of home/office and you do not have to stand in queue to e-file. v) E-returns can be accessed anytime from the tax department's e-filing portal. For further information contact Prajna Capit...

IDFC - Long term infrastructure bonds - Tranche 2

IDFC - Long term infrastructure bonds What are infrastructure bonds? In 2010, the government introduced a new section 80CCF under the Income Tax Act, 1961 (" Income Tax Act ") to provide for income tax deductions for subscription to long-term infrastructure bonds and pursuant to that the Central Board of Direct Taxes passed Notification No. 48/2010/F.No.149/84/2010-SO(TPL) dated July 9, 2010. These long term infrastructure bonds offer an additional window of tax deduction of investments up to Rs. 20,000 for the financial year 2010-11. This deduction is over and above the Rs 1 lakh deduction available under sections 80C, 80CCC and 80CCD read with section 80CCE of the Income Tax Act. Infrastructure bonds help in intermediating the retail investor's savings into infrastructure sector directly. Long term infrastructure Bonds by IDFC IDFC issued an earlier tranche of these long term infrastructure bonds on November 12, 2010. This is the second public issue of long-te...

Merger of Tata Indo-Global Infrastructure Fund with Tata Equity Opportunities Fund

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300 Merger of Tata Indo-Global Infrastructure Fund with Tata Equity Opportunities Fund Tata Mutual Fund has decided to merge Tata Indo-Global Infrastructure Fund with Tata Equity Opportunities Fund, with effect from January 16, 2015.   Investors of Tata Indo-Global Infrastructure Fund can redeem/ switch out units from December 13, 2014 to January 12, 2015 without paying any exit load. For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call Leave a missed Call on 94 8300 8300 Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com --------------------------------------------- Invest Mutual Funds Online Invest Any Mutual Fund Online Download Mutual Fund Application Forms from all AMCs Download Mutual Any Fund A...

Section 80CCD

Top SIP Funds Online   Income tax deduction under section 80CCD Under Income Tax, TaxPayers have the benefit of claiming several deductions. Out of the deduction avenues, Section 80CCD provides t axpayer deductions against investments made in specific sector s. Under Section 80CCD, an assessee is eligible to claim deductions against the contributions made to the National Pension Scheme or Atal Pension Yojana. Contributions made by an employer to National Pension Scheme are also eligible for deductions under the provisions of Section 80 CCD. In this article, we will take a look at the primary features of this section, the terms and conditions for claiming deductions, the eligibility to claim such deductions, and some of the commonly asked questions in this regard. There are two parts of Section 80CCD. Subsection 1 of this section refers to tax deductions for all assesses who are central government or state government employees, or self-employed or employed by any other employers. In...

ULIP Review: ProGrowth Super II

  If you are interested in a death cover that's just big enough, HDFC SL ProGrowth Super II is something worth a try. The beauty is it has something for everybody — you name the risk profile, the category is right up there. But do a SWOT analysis of the basket, and the gloss fades     HDFC SL ProGrowth Super II is a type-II unit-linked insurance plan ( ULIP ). Launched in September 2010, this is a small ticket-size scheme with multiple rider options and adequate death cover. It offers five investment options (funds) — one in each category of large-cap equity, mid-cap equity, balanced, debt and money market fund. COST STRUCTURE: ProGrowth Super II is reasonably priced, with the premium allocation charge lower than most others in the category. However, the scheme's mortality charge is almost 60% that of LIC mortality table for those investing early in life. This charge reduces with age. BENEFITS: Investors can choose a sum assured between 10-40 times the annualised premium...
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now